Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
On 1 Febuary 2007, the British-Swedish pharmaceutical company AstraZeneca announced cost-saving plans to secure future investments and acquisitions. Plans foresee the loss of 3,000 out of 14,000 manufacturing jobs worldwide. AstraZeneca, which employs a total workforce of 65,000 worldwide, holds 14 manufacturing plants in 19 countries. No precise information on the affected plants was given. AstraZeneca's major competititors Merck and Pfizer have also adopted cost-saving programmes. In 2005, Merck announced the loss of 7,000 jobs worldwide; very recently (January 2007) Pfizer revealed its plans to cut 10,000 jobs.
Eurofound (2007), Astra Zeneca, Internal restructuring in World, factsheet number 64877, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64877.